Trump taps budget aide to head Consumer Bureau

The White House on Saturday said it would nominate Kathy Kraninger, a White House budget official, to serve as the next director of the Consumer Financial Protection Bureau, in a push to continue scaling back the Obama-era agency’s efforts to regulate consumer financial products.

Kraninger’s nomination is likely to draw protests from Democrats and consumer advocates worried that the CFPB has been weakened during the Trump administration and is no longer aggressively going after the financial industry for bad behavior.